FEATURE
Supply shortages plague building and construction Megan Peacock Director Policy & Media
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upply chain shortages continue to be an issue across the industry as we move into a postpandemic recovery. MBV knows that the cause of supply shortages is a result of combined domestic and international factors:
to stimulate their economies • Environmental factors, such as bushfires and cyclones impacting domestic timber production • Shipping delays due to ongoing strikes and shipping and logistical challenges
• The success of the Homebuilder Scheme - which provided muchneeded stimulus to support our economy throughout COVID-19
• China’s covid-zero policy is causing continued shutdowns across the country, affecting major ports – Shenzhen, one of the largest international ports in the world, was recently shut down earlier in March 2022
• Other countries around the world, such as the US, also increased domestic spending on construction
• Increased demand for building materials due to flooding in QLD and NSW
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Master Builders Victoria
• Things such as internal lighting, arks, skirts, plasterboard and doors are all going to be in high demand • Conflict in Ukraine and international economic sanctions on trade with Russia These events have converged and led to real pressures on the building sector within Victoria and Australia more broadly. In addition to this, consumers who would usually spend money overseas have turned their attention to renovating or buying a new home because they could not travel during the pandemic. MBV has continued to advocate government on the industry’s supply
Volume 77 Issue 02
